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Wednesday, 28 April 10
DRY BULK MARKET
 After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Index (BDI) rose yesterday by more than 6% on a daily basis to 3,203 points, with analysts unanimous that stronger iron ore demand from China was the key reason. The BDI now stands at its highest level in more than one month, while reports said yesterday that smaller Chinese steel mills began buying iron ore at quarterly prices agreed by Japan and South Korea, in a move that effectively ends the old benchmark system.
In its weekly report, shipbroker BRS (Barry Rogliano Salles) said that South Africa’s Richards Bay terminal confirmed a sharp rise in Asian exports, which rose to 42% of total shipments in the first quarter of this year, up from 25% a year earlier – due mainly to Chinese and Indian demand.
In Europe, Thyssenkrupp became the first European buyer to confirm it had agreed an iron ore price on a quarterly basis. In line with the Japanese contracts, it also reported a 100% price increase, back-dated to April 1. Commenting on the capesize market prospects, BRS said that the market will continue to watch what impact the new, higher commodity prices will have on demand.
According to brokers quoted by Reuters, high congestion at Brazilian ports had also helped drive rates higher, especially for the larger capesize ships. They added that freight derivatives contract buying had added to the positive momentum. Andrew Dawson, a broker with Freight Investor Services was quoted by the agency saying that "it seems to be a combination of a lack of vessels in the Atlantic and also increased demand from the Chinese. It's iron ore that has driven this push." As a result, capesize vessels, typically the main haulers of iron ore were the principal gainers from yesterday’s upward push in the market. Average earnings rose to $35,109, according to the Baltic Exchange.
In a separate report, JP Morgan Chase & Co. raised its previous estimates on global demand for dry bulk commodities, saying that it will expand by 6 percent in 2010, versus its previous forecast of 3.7 percent. On a similar note, JP Morgan said that it expects iron ore trade growth to reach 11.2%, from an earlier prediction of 5.7%, while coal demand will expand by 5.7%, up from the previous estimate of 3.8%. In other words, the investment bank almost doubled its estimates on global dry bulk trade growth, in what could be translated as a pretty strong sign of the industry’s ability to leap out from the crisis and also face with very increased chances the issue of tonnage oversupply.
On that matter, JP Morgan commented that the increased trade will coincide with half the ships that are scheduled to be built this year being delayed or cancelled, as yards in Asia fail to deliver a record order book on time. “We do not believe that it is even physically possible for the shipyards to meet this robust schedule, with or without financing concerns,” said the report, quoted by Bloomberg.
JPMorgan increased its forecasts for what ships will earn as a result by as much as 33 percent. Panamax ships, the largest to sail through the Panama Canal, will average $21,200 a day this year, up from a previous forecast of $16,000, JPMorgan said. Rates for capesizes, were revised up 3.1 percent to $33,000 a day; supramaxes were increased 22 percent to $17,100 a day, and handymaxes will make $14,700, compared with a prior estimate of $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
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- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Planning Commission, India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
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